The ‘Global Pulse Oximeter Market Trends, Share, Price, Size, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global pulse oximeter market, assessing the market on the basis of its segments like type, technology, age group, end use, and major region.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Pulse Oximeter Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.50%
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The increasing prevalence of lung and heart-related disorders is driving the demand for pulse oximeters. They are also used conventionally used across hospitals and ambulatory surgical centres before general surgical procedures, to reduce the chances of complications. Spike in cases of conditions such as asthma, hypoxia, obstructive pulmonary disease, emphysema, and anaemia, among others, is propelling the pulse oximeter market growth. In addition, the increasing cases of cardiovascular disorders surged by the rising geriatric population are further providing growth opportunities for the market. Moreover, the rising healthcare expenditure across the emerging economies, inflating disposable income, and increasing health awareness among the working population, are escalating the demand for pulse oximeters.
The increasing patient preference towards minimally invasive treatment procedures is a key driving factor of the pulse oximeter market. Pulse oximeters also play a crucial role in determining and guiding treatment options. In this regard, rising standards of healthcare units and increasing efforts by authorities to improve treatment decisions are expected to bolster the demand for pulse oximeters in the forecast period. Furthermore, portable pulse oximeters are expected to witness a steady growth in the coming years, owing to the explosive growth of usage in home care settings.
Pulse Oximeter Industry Definition and Major Segments
A pulse oximeter is defined as a compact medical device which measures the amount of oxygen being circulated in the body. It is a non-invasive and painless tool which can be attached to the fingertips of a patient and monitors the pulse rate using wavelengths of light.
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Based on type, the market is segmented into:
• Fingertip Pulse Oximeters
• Handheld Pulse Oximeters
• Tabletop Oximeters
By technology, the market is bifurcated into:
On the basis of age group, the market is divided into:
Based on end use, the market is categorised into:
• Hospitals and Ambulatory Surgical Centres
• Home Healthcare
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Pulse Oximeter Market Trends
The key trends in the global pulse oximeter market include the growing expansion of the major medtech companies across the developed and developing economies leading to an expanded expenditure of research and development. Development of innovative products such as smart pulse oximeters is likely to increasing their application across hospitals.
In addition, smart pulse oximeters come with greater accuracy, one-touch operation, and multidirectional display which increases the efficiency of treatment processes. Moreover, the growing innovations aimed towards reducing weight and increasing the quality of pulse oximeters are anticipated to increase the usage of pulse oximeters in the coming years.
The increasing prevalence of congenital heart disease (CHD) among paediatric patients is a crucial trend in the pulse oximeter market. Robust development of paediatric clinics and hospitals, coupled with favourable reimbursement policies of governments across emerging economies are anticipated to provide impetus to the market in the forecast period.
In geographical terms, North America accounts for a significant share in the market, which is being driven by the well-established healthcare system in the United States. Growing US FDA clearance of new and innovative pulse oximeters in the region are further augmenting the market dynamics.
Key Market Players
The major players in the global pulse oximeter market report are
• Medtronic, plc
• Koninklijke Philips N.V.
• Nonin Medical, Inc.
• Nihon Kohden Corporation
• ICU Medical Inc.
• Masimo Österreich GmbH
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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